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Stock market indices bearish as 32 firms loses

The equities market of the Nigerian Stock Exchange extended its losses on Monday as the prices of 32 stocks depreciated at the close of trading.

The market capitalisation of listed equities fell to N13.999tn from N13.545tn on Friday, while the NSE All-Share Index dropped to 37,266.86 basis points from 37,392.77bps.

Last week, the ASI and the market capitalisation depreciated by 0.62 per cent, with all other indices finishing lower with the exception of the NSE Oil/Gas and the NSE Lotus II Indices that appreciated by 0.71 per cent and 0.37 per cent, respectively.

Thirty-two stocks recorded price reduction on Monday, with Learn Africa Plc topping the losers’ table as its share price dipped by 10 per cent to N1.26.

Multitrex Plc, PZ Cussons Nigeria Plc, UPDC REIT and Wema Bank Plc fell by 10 per cent each to close at N0.36, N17.10, N9.00 and N0.63 per share, respectively.

Other losers were Custodian and Allied Insurance Plc, Neimeth International Pharmaceuticals Plc, Oando Plc, Associated Bus Company Plc, Union Diagnostic & Clinical Services Plc, Equity Assurance Plc, Regency Alliance Insurance Company Plc, Tantalisers Plc, and Unity Bank Plc, among others.

Eight stocks, led by Nigerian Aviation Handling Company Plc, recorded gains at the close of trading on Monday.

NAHCO appreciated by 9.97 per cent to close at N04.08 per share. It was followed by Sovereign Trust Insurance, which rose by 8.7 per cent to close at N0.25 per share.

LASACO Assurance Plc increased by 5.88 per cent to N0.36 per share; UAC of Nigeria Plc gained 5.26 per cent to N14 per share, while Flour Mills of Nigeria Plc rose by 3.10 per cent to N29.9 per share.